Your chartered bank is offering a one-year GIC with an interest rate of two percent, and...
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Your chartered bank is offering a one-year GIC with an interest rate of two percent, and a one-year cashable GIC at one and a half percent. Term deposits are paying one percent. You have $10 000 to invest of which you feel $5000 is sufficient for emergency fund purposes. How should you invest your funds given the scenario above? O $5 000 in the one-year GIC and $5 000 in a term deposit O $10,000 in the one-year cashable GIC O $10,000 in the one-year GIC O $5,000 in the one-year GIC and $5 000 in the one-year cashable GIC A 3-year GIC pays annualized simple interest at two percent. How much interest will you earn on $5000 if you hold it to maturity? O $325.00 $160.27 $300 O $162.50 Your chartered bank is offering a one-year GIC with an interest rate of two percent, and a one-year cashable GIC at one and a half percent. Term deposits are paying one percent. You have $10 000 to invest of which you feel $5000 is sufficient for emergency fund purposes. How should you invest your funds given the scenario above? O $5 000 in the one-year GIC and $5 000 in a term deposit O $10,000 in the one-year cashable GIC O $10,000 in the one-year GIC O $5,000 in the one-year GIC and $5 000 in the one-year cashable GIC A 3-year GIC pays annualized simple interest at two percent. How much interest will you earn on $5000 if you hold it to maturity? O $325.00 $160.27 $300 O $162.50
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Related Book For
Foundations of Financial Management
ISBN: 978-1259024979
10th Canadian edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
Posted Date:
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